Every year since 1939 the NCAA college basketball tournament, now affectionately referred to as March Madness, has been a highly celebrated event in American popular culture–mostly because of school pride and the bragging rights that come as a result of being deemed the best in the sport. In more recent years, however, as the total number of teams playing in the tournament has increased, and subsequently the competitiveness of the sport, its popularity has grown significantly, and it is now broadcast across on at least four major networks, and watched by individuals even outside of the United States.
For businesses owners in particular, there are some things to learn from this global, annual phenomenon. The level of excitement and energy surrounding it doesn’t come easily. To get to the level of “madness,” here are a few you should note:
- 1. Don’t Be Afraid To Grow
When the tournament first began nearly eight decades ago, there were just 8 teams playing against one another. 40 years after its launch, the organization had expanded to include 48 teams across the division in total. Today, that number has grown to 68 different colleges and universities, which has provided a space for the inclusion of those that were accomplished but previously excluded because of the limited number invited to participate. The ability to evolve and recognize a need has payed off for the organization, as well as for teams that have grown as a result playing against greater odds, and those which have defeated the odds altogether, which fans of the game refer to as the “Cinderella Team.” - Get Active Participation from Outsiders
The only bigger than your team winning during March Madness is accurately predicting that they would. Americans love brackets, and seemingly everyone from school campuses to corporate offices get in on the action. It has become tradition, and in many instances, is bigger than the game itself. This type of participation from the outside world is welcome PR for the organization, and keeps the conversation going, even for those who don’t otherwise watch the events. Any business or organization that can have millions of other people equally invested in its efforts is in a great position. - Marketing Is A Must
Which brings me to my next point. The NCAA could assume that if they merely make the game available, those with brackets would be involved and the popularity, after 80 years, would be consistent. Yet, it actively promotes and uses every marketing tool available to not only maintain involvement but to increase the number of those engaged. On social media, television, and radio, the organization has actively made the public aware of the games and brackets, and will continue to do so through the rest of the month. The lesson in this is that you should always be marketing your products, services and/or events. There is always room for growth, no matter your place in the market.
Above all, March Madness is about fun, and about teamwork. Those two things should be a part of everyone’s business culture, as they are each a determining of factor of success. Most importantly, one should always strive to be the best, and continue getting better.
